understanding the depositary function under the AIFM directive

Together with PEA

Depositary

Depositary Summed Up

PEA Depositary was established in 2014 as a separate entity following the implementation of the AIFM Directive. Our Depositary function is building upon our existing systems and controls from the Fund Administration and we primarily serve clients within Private Equity, Venture Capital, Real Estate and Infrastructure. Our depositary team has a solid background from fund administrators, banks, law firms and accounting and in-depth knowledge of our staff gives our clients efficient and responsive handling of the depositary function. In PEA, we believe that Industrial knowledge is a key assumption for carrying out the Depositary assignment.

Cash Flow Monitoring

Obtaining Cash Transaction Data through read only data accessed from your current banking systems.

Cash Reconciliation prepared in line with your existing cash reconciliation procedures.

Exceptions and Anomalies investigation and immediate follow-up back to the client.

Subscription/Distribution Monitoring

 Closings/subscriptions/commitments.

Allocation of Drawdowns /distributions.

Keep and maintaining a register of investor transactions.

Oversight

Compliance with fund documentation and local legislation proving the practical implementation of procedures.

Assessing where there may be gaps in the fund’s operating model v the procedures required to execute the model.

NAV calculation verification.

An annual report looking at the implementation and application of your procedures, ensuring any gaps are resolved.

Custody Function/Ownership Verification

Documentation on investment transactions.

Asset registration.

Ongoing checks and validation to ensure assets remain registered in the name of the fund.

Depositary Functions